Notes From the Rabbit Hole is a reality-based financial market service with a critical contrary perspective: “Before NFTRH I used to feel a bit like Agent Starling in Buffalo Bill’s basement after the lights went out. Thanks for turning on the lights.” –JM

NFTRH Update 5.24.13, HUI Status

In reference to yesterday’s update, the lame activity continues with no follow through in dealing with the EMAs 10 and 20.

HUI daily

What’s more, it could be forming another bear flag. I do not want to fall into a trap of being mentally whipsawed and nor should you. A writer showing you lines on a chart and providing interpretations can be made to look very silly if the index blasts upward by 20 points on Tuesday.

So understand that all I can do is show you the chart and tell you what I am doing, which is to take a few profits and boost cash. There is little volume in the sector on this pre-holiday Friday, as even the DUST bear ETF is rising on little volume.

I have not seen enough this week to make me bullish. That is as clear as I can be. Bearish? No, not really. A lover of cash? Yes, that is me.

Enjoy your weekend and see you Sunday with a hopefully concise and relatively brief NFTRH 240.

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